Annual and Special Meeting 2018 Information Circular

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ProjectsCopper Mountain MineAnnual Operating Statistics

The key development for 2015 was the first full season with our secondary crusher as a permanent solution to maximize production and improve overall efficiencies for the company. Secondary crusher construction was completed in August 2014 on budget and on schedule. We enjoyed record site operating costs and total operating costs as well as achieving record quarterly mill throughput of 37,500 tpd (Q3 2015). In Q3, 2017, Mill throughput averaged 41,158 tpd during the quarter, setting a new quarterly throughput record.

2018 Guidance

  • Copper Production
    80 million Lbs +/- 5%
  • Mining Rate
    190,000 tpd
  • Mill Throughput
    40,000 tpd
  • Copper Head Grade
    0.31%

Annual Operating Statistics

  • Mine Production Information
  • Copper Mountain Mine (100% Basis)
    2017
    2016
    2015
    2014
  • Mine:
  • Total tonnes mined (000’s)2
    72,600
    68,800
    57,658
    60,063
  • Ore tonnes mined (000’s)
    26,200
    23,400
    22,516
    18,766
  • Waste tonnes (000’s)
    46,400
    45,400
    35,142
    41,297
  • Stripping ratio
    1.77
    1.94
    1.56
    2.20
  • Mill:
  • Tonnes milled (000’s)
    14,100
    14,200
    12,805
    11,096
  • Feed Grade (Cu%)
    0.32%
    0.324%
    0.34%
    0.40%
  • Recovery (%)
    77.2%
    81.6%
    82.1%
    82.5%
  • Operating time (%)
    90.3%
    92.1%
    91.8%
    89.4%
  • Tonnes milled (TPOD)3
    38,600
    38,900
    35,100
    30,400
  • Production:
  • Copper production (000’s lbs)
    75,800
    82,900
    77,600
    81,000
  • Gold production (oz)
    23,600
    30,800
    29,200
    22,600
  • Silver production (oz)
    277,000
    291,900
    276,300
    443,800
  • Site cash costs per pound of copper produced (net of precious metal credits) (US$)4
    $1.38
    $1.12
    $1.25
    $1.49
  • Total cash costs per pound of copper sold (net of precious metal credits) (US$)4
    $1.81
    $1.54
    $1.74
    $1.98
  1. Partial year of production
  2. Excludes ore re-handle from stockpile
  3. Tonnes per operating day
  4. 2012 cash cost comparatives have been adjusted for adoption of IFRIC 20 and change in accounting policy related to inventory cost allocation.